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The latest update is out from Estrella Resources Limited ( (AU:ESR) ).
Estrella Resources Limited has successfully converted four Reconnaissance Permits into Exploration and Evaluation Licenses in Timor-Leste, marking a significant milestone as the first company to do so under the country’s new mining laws. This conversion, based on strong initial exploration results, allows for more intensive exploration activities such as drilling and trenching, expanding Estrella’s exploration capabilities and potentially enhancing its market position in the region. The licenses, granted for four years with a possible six-year extension, involve joint venture concessions with the state-owned mining company Murak Rai Timor, E.P., and require community engagement and development efforts.
More about Estrella Resources Limited
Estrella Resources Limited operates in the mining industry, focusing on the exploration and evaluation of mineral resources. The company is primarily involved in the prospecting of manganese and limestone, with a market focus on expanding its exploration capabilities under new mining laws in Timor-Leste.
Average Trading Volume: 3,493,682
Technical Sentiment Signal: Buy
Current Market Cap: A$71.82M
For detailed information about ESR stock, go to TipRanks’ Stock Analysis page.